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Showing 31 - 40 of 166 results for "Cash earnings"

Remediation to hit Westpac earnings

HARRISON WORLEY  |  MONDAY, 25 MAR 2019
Westpac's cash earnings in the first half of the year will be hit by $260 million in remediation payments. The bank today confirmed the amount could still rise, with the $260 million provision not yet inclusive of any allowance for refunds to customers ...

Chief economist update: The curse of Japan's consumption tax hike

BENJAMIN ONG  |  TUESDAY, 15 JAN 2019
... war and the slowing Chinese economy. Rising Japanese wages indicate continued expansion/recovery. Total average cash earnings growth accelerated to 2% in the year to November from 1.5% in the previous month and 0.8% in September. Even better, real wages ...

Westpac admits it didn't take FoFA seriously

KANIKA SOOD  |  WEDNESDAY, 7 NOV 2018
... advisers. On Friday, Westpac said it was expecting its compensation bill to shave off $281 million from its FY18 cash earnings - this was $46 million higher than Westpac's previous estimate provided at September end. The bank spent over $1.1 billion ...

Banks must reshape to survive compliance and technology crunches

DARREN SNYDER  |  TUESDAY, 6 NOV 2018
... accustomed to from our banking industry. Trade-offs will inevitably need to be made," Verbeek said. The headline cash earnings of Australia's big four banks dropped to $29.49 billion after tax for the 2018 full year, a decrease of 5.5% from the same ...

Royal Commission hits Westpac cash earnings

JAMIE WILLIAMSON  |  MONDAY, 5 NOV 2018
... reported a flat net profit of $8 billion with increased remediation provisions and legal costs weighing on the group's cash earnings. The group recorded a 1% increase in net profit year-on-year to $8.095 billion for the 12 months to September 2018. Cash ...

NAB signals more bad advice remediation

KARREN VERGARA  |  THURSDAY, 1 NOV 2018
... salaried financial advisers, reported $1.5 billion in net profit - down 5.8% on the prior year. The group's cash earnings or net profit attributable to shareholders was $5.7 billion - down 14% on the prior corresponding period.

ANZ compensation bill hits earnings

KARREN VERGARA  |  MONDAY, 8 OCT 2018
... incurred largely relate to its restructure of the Australian and technology divisions. Similarly, Westpac announced its cash earnings for 2018 will take a $235 million hit due to ongoing remediation to financial advice customers. The institution is estimating ...

Dishonest advice fees dent Westpac earnings

JAMIE WILLIAMSON  |  FRIDAY, 28 SEP 2018
Westpac's cash earnings for 2018 will take a $235 million hit due to ongoing remediation to financial advice customers. The institution is estimating its full-year cash earnings will be reduced significantly as a result of provisions set aside for compensation ...

BTFG flags platform overhaul

HARRISON WORLEY  |  MONDAY, 23 JUL 2018
... customer growth the revenue impact of the pricing changes would have been about $70 million or $50 million on a cash earnings basis for the 2017 financial year, if all customers that would have benefited from the administration fee changes had transitioned ...

BTFG reports first half earnings growth

HARRISON WORLEY  |  MONDAY, 7 MAY 2018
... in the six months to 31 March 2018, an increase of 5% on 2H17. Overall BT Financial group added $404 million in cash earnings to Westpac Group's interim results, with the funds management business contributing $253 million - 13% higher than its contribution ...